Again, this is not really at $32.25 as I pointed out. $32.25 - 43.5 is $31.815. <> Bed Bath & Beyond will sell about half of its real estate to a private equity firm and then lease back the space, a deal expected to earn the company more than $250 million. It is delivered on an as is basis without warranty or liability. The firm focuses on structuring. Mr. Milek founded Ridgewood Capital, a real estate advisory firm, in 2008. For more information, please visit us at www.blueowl.com. Our competitive advantages include our experienced team of investment professionals, a global platform and a unifying investment philosophy that is complemented by a set of core business principles. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Why? Already have an account? If you experience any issues with this process, please contact us for further assistance. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. Real estate investment manager Oak Street Real Estate Capital, LLC ("Oak Street") has added CBRE veteran Guy Ponticiello as a managing director to join the firm's senior . Necessary cookies are absolutely essential for the website to function properly. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. I wrote this article myself, and it expresses my own opinions. Mr. Hampton founded Oak Street Capital in 2003. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . This just in. ", Marc Zahr, Co-Founder and CEO of Oak Street, said: "Through its direct lending and GP stakes solutions, Blue Owl has built a one-stop shop for alternative asset managers in solving capital needs. <> %PDF-1.7 That ties O and beats SRC's 28%. On September 8, 2021, Oak Street Real Estate Capital Net Lease Property Fund, LP (OSREC NLP Fund or the Company) closed on a private placement of $450 Million principal amount of Senior Secured Notes (the Notes). *May exclude premium content Oak Street, a Chicago-based investment firm, contacted SpartanNash last month to reiterate its interest in buying real estate from the company worth up to $1 billion, shortly after two. Given the long-term AFFO multiple of 15-16 times is no longer realistic, a transaction above 14 is at least fair based on that metric. What does this mean for CRE professionals? Mr. Milek specializes in completingrisk assessments and action plans for distressed financial institutions. We also use third-party cookies that help us analyze and understand how you use this website. The transaction is anticipated to be approximately 5-7% accretive to Distributable Earnings per Share starting in 2022. On one hand, STOR's stock decline of ~33% in the past two quarters means $32.25 per share is likely to irritate many investors (especially since there's no dividend in Q4). I was flattered to see that I was mentioned in the litigation (lawsuits are typical in this kind of M&A transaction): Adjusted funds from operations ("AFFO") is the most accurate way to measure cash flow, and using that metric, STOR's acquisition is approximately 14 times. The cookie is used to store the user consent for the cookies in the category "Analytics". The firm was founded in 2009 and headquartered in Chicago, Illinois. The closing purchase price of$950 millionwill be funded through a combination of cash and Blue Owl common units (up to an aggregate of approximately 39 million Blue Owl common units issuable at closing). The net lease funds provide corporate tenants with the ability to optimize their balance sheets, delivering immediate liquidity, tax benefits, and operational flexibility. Blue Owl Capital Completes Acquisition of Oak Street Real Estate Capital, https://www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html. Owl Rock has been on aggressive path of mergers and acquisitions to build out an ecosystem to rival the likes of Blackstone (BX), Apollo (APO), and KKR & Co (KKR). The net proceeds from the issuance of the Notes will be used to repay outstanding borrowings under the Revolving Credit Facility and for general corporate purposes, including potential acquisitions. 6 0 obj The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. That's below the 52-week high of $36.13 and well below its pre-pandemic stock price that exceeded $40 per share multiple times. Heis also the editor of The Forbes Real Estate Investor., Thomas has also been featured in Barron's, Forbes Magazine, Kiplingers, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox., He is the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, and 2022 (based on page views) and has over 106,000 followers (on Seeking Alpha). Oak Street Real Estate Capital is a diversified real estate investment firm. CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). STOR's leverage based on long-term debt as of the end of Q2 was 41%. Alternative asset manager Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, of Chicago, and its investment advisory business for $950 million. <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>> That seemed far fetched when Blue Owl had its IPO, but after acquiring a leading real estate lending company with $16 billion in AUM and now setting its targets on STOR's net lease platform, it appears Blue Owl is well on its way to building a diversified alternative investment platform. And this offer includes a 2-Week FREE TRIAL plus my FREE book. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. We look forward to working closely together and are excited for what the future holds. That's a healthy improvement over the pre-deal's 11.8 times, but keen investors know what STOR's 5-year AFFO multiple is around 15.5 times (it's a little over 16 times since inception). This idea was discussed in more depth with members of my private investing community, iREIT on Alpha. On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. Email: bh@oakstcap.com Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. The firm was founded in 2009 and headquartered in Chicago, Illinois. Please disable your ad-blocker and refresh. Our typical financing zone ranges from from $5M to $500M. x\Te. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. In addition, hehas extensive experience developing equity and mezzanine facilities across multiple product lines. Oak Street Real Estate Capital has been one of the fastest growing managers in the private real estate space this past decade. 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Blue Owl, formed through a merger of Owl Rock Capital Partners and Dyal Capital Partners, is making its first acquisition since going public through a blank-check company earlier this year. Copyright 2023 ALM Global, LLC. from 8 AM - 9 PM ET. We've written in-depth articles on Blue Owl and will only touch on the most relevant points here. Web: www.oakstcap.com. Forward-Looking StatementsCertain statements made in this release are forward looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The firm was founded in 2009 and headquartered in Chicago, Illinois. It's not complicated - performance is strong and consistent. These elements explain why Blue Owl is both interested in STOR and at $32.25 per share, but two key questions remain: Is it good for STOR shareholders and what's the probability of obtaining a better price? That last one is relevant as STOR has 30 days to shop the deal to another buyer. To learn more about the cookies we use, please see our. . The retailer sold 2.1 . Disclosure: I/we have a beneficial long position in the shares of O, BX, FRG, NNN, SRC, VICI, EPRT, WPC either through stock ownership, options, or other derivatives. Oak Street is committing up to $1 billion. This Q4 retail quarterly index report reveals how economic headwinds impacted key retail CRE categories during the critical holiday shopping season, and what their performance tells us about consumer behavior and brick-and-mortar retail in the year ahead. Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. DFIN was Jason Clucas on LinkedIn: GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital Oak Street Funding is a lender that understands the unique needs and market conditions of retail agencies, MGA's , wholesalers . Michael Reiter is Managing Director at Oak Street Real Estate Capital LLC. NEW YORKandCHICAGO,Oct. 18, 2021 Blue Owl Capital Inc. (Blue Owl) (NYSE:OWL) announced today it has entered into a definitive merger agreement to acquire Oak Street Real Estate Capital, LLC (Oak Street) and its investment advisory business. Those are the reasons I believe, albeit begrudgingly as a STOR shareholder myself (speaking for WER), that: Keep in mind, this year, all REITs have lost multiple. The firm's breadth of offerings and permanent capital base enables it to offer a differentiated, holistic platform of capital solutions to participants throughout the private market ecosystem, including alternative asset managers and private middle market corporations. Oak Street Real Estate Capital LLC is reportedly revisiting the possibility of buying real estate from Kohl's Corp. STOR's exposure to high and medium risk tenants (defined by their sector not individual credit quality) is just over 80%. ExodusPoint Capital Management LP cut its holdings in shares of Oak Street Health, Inc. (NYSE:OSH - Get Rating) by 24.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission.The fund owned 23,944 shares of the company's stock after selling 7,820 shares during the period. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html, 399 Park Avenue, 37th Floor New York, NY 10022. Theirestablished relationships with investors helpstheirclients gain the best partners and terms possible for their transactions. Oak Street has agreed to purchase and lease to GPM real estate associated with acquisitions of convenience store brands and fueling stations. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, adding real estate financing capabilities to its product offering. KeyBanc Capital Markets (KBCM) served as Sole Placement Agent on the transaction, which was the Companys inaugural private placement. The firm is a market leader in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities, and government entities. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. Blue Owls management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. First, it has a lot of properties - just over 3,000 as of the end of the last reporting period. GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital, Blue Owl Capital Inc. Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data. Townhouse | Five Palm | 5 Star Facilities, Custom Built | N Frond | Skyline View | Must View, Exclusive | Upgraded | Fully Furnished | VOT. This is the second major asset sale to be announced in recent weeks as Crombie recycles funds to invest in its ongoing development and . 21917 Rock Wren Rd The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. When typing in this field, a list of search results will appear and be automatically updated as you type. Oak Street Real Estate Capital is a diversified real estate investment firm. Private Placement of Senior Secured Notes, Coordinating Lead ArrangerAdministrative Agent, Massachusetts Development Finance Agency Series 2022, Sales Tax and Telecommunications Revenue Refunding Bonds, Left Lead ArrangerJoint BookrunnerAdministrative Agent, Lead ArrangerBookrunnerAdministrative Agent, has entered into an affiliation agreement with, has divested of a 14.2 MW community solar portfolio in Illinois to, tpg-growth-and-novant-health-partnership-medquest-associates, massachusetts-development-finance-agency-dyouville-senior-care, utah-telecommunication-open-infrastructure-agency. About Oak Street. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. All rights reserved. My team and I look forward to partnering with the Blue Owl team to bring Oak Streets differentiated product offerings to a new base of investors and to collaborate to bring additional investment opportunities to investors in Oak Streets funds down the line.. <> We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". J/kX0FTTDc(_LQ^^~xl{y|?wn3(( bp8Z]43w40Ko^zytwt5ODIMC_) ohi|*l='^Sv9D_R]|,`"0pA=zY M7rLX^ZX9=s)oApyd]RECbM. Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . This cookie is set by Windows Azure cloud, and is used for load balancing to make sure the visitor page requests are routed to the same server in any browsing session. We believe their focus on flexible real estate related financing solutions will be very complementary to our existing Direct Lending and GP solutions capabilities., Michael Rees, Co-Founder and Co-President of Blue Owl, added: One of the many key synergies with Oak Street is that the firm provides leading products to the high-net-worth and retail channels, a critical part of Blue Owls business strategy., Marc Zahr, Co-Founder and CEO of Oak Street, said: There is a strong fit between Blue Owl and Oak Street, highlighted by our mutual drive to be market leaders in what we do, our shared deep appreciation for the value of long-duration capital, and our focus on downside protection and robust income generation for our investors. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. This press release includes certain non-GAAP financial measures, including Distributable Earnings per Share, that are not prepared in accordance with accounting principles generally accepted inthe United States(GAAP) and that may be different from non-GAAP financial measures used by other companies. O9#8lq>~vh`\V$Lm~aEqePVJs&@:jieLdz*be+0tr{z6o@J:TMLUUk3)]ZIGv^0 oa8_^L'H-?h,:T fiJ RXBj m|H Congratulations to Store Capital, GIC, and Oak Street on the completion of one of the largest M&A transactions in the US real estate market! Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. MSCIs RCA CPPI National All-Property index lost 2.7% since December. 3 0 obj As per the report, Oak . The firm was founded in 2009 and headquartered in Chicago, Illinois. 99.5% occupancy as of the end of Q2 is also difficult to beat. Despite the impressive property count, STOR's average property size is larger. April 21, 2021. ", Marc Zahr, Co-Founder and CEO of Oak Street, said: "Through its direct lending and GP stakes solutions, Blue Owl has built a one-stop shop for alternative asset managers in solving capital needs. If you were Blue Owl or another bidder, wouldn't you want a lower price in this market too? The firm had approximately $70.5 billion of assets under management as of September 30, 2021. Start Your Free Trial Private equity firm Oak Street Real Estate Capital LLC has reportedly made a bid to acquire around $2 billion worth of property from Kohl's, Reuters reported on Friday. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. If you have an ad-blocker enabled you may be blocked from proceeding. xT]o0}pIMk;*RvPT6:xnyqtnZ\`|y STOR itself has a BBB rating with a positive outlook from S&P. Miami reclaimed the top destination for the first time since August. If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. Email: bh@oakstcap.com Oak Street Real Estate Capital is a diversified real estate investment firm. The private equity firm could buy up to $2 billion worth of the. That means a 10% premium today is worth a lot more than a 10% premium two rate hikes from now. Oak Street operate to the most professional standards. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Is this happening to you frequently? Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Then, the agreement calls for STOR to not pay out its Q4 dividend, which would be 41 cents. Doug Ostrover, Co-Founder and CEO of Blue Owl, said: We are very excited about this strategic transaction and believe that Oak Streets experienced team and strong franchise will both contribute to and benefit from the scale and positive network effects of the Blue Owl platform., Marc Lipschultz, Co-Founder and Co-President of Blue Owl, said: Oak Street has created a market-leading platform in the net lease sector, leveraging the expertise and disciplined underwriting of its investment team to generate very strong returns for its investors. The firm was founded in 2009 and headquartered in Chicago, Illinois. For more information, please visit us at www.blueowl.com. endstream Our math suggests STOR is risking more than that $2-$3 per share in potential upside by waiting around for another buyer as the Fed continues to hike rates. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. Los Angeles. The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions. The firm's breadth of offerings and permanent capital base enables it to offer a differentiated, holistic platform of capital solutions to participants throughout the private market ecosystem, including alternative asset managers and private middle market corporations. 2017-2022 Oak Street Capital, LLC. Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. SCOTTSDALE, Ariz. & SINGAPORE & CHICAGO, February 03, 2023--STORE Capital Corporation (NYSE: STOR, "STORE", "STORE Capital" or the "Company"), an internally managed net-lease real estate . Chairman & CEO Ben Mohns Head of Asset Management - North America Brian Mutchler Head of Special Situations Erin Nahumyk Chief Accounting Officer Geoff Regnery Global Head of Investor Relations Jenna Sheehan Head of Investor Relations - North America, Chief Marketing Officer Joey Lansing Global Head of Portfolio Management & Strategy Zahr and Hennessey compare the offer to corporate sale-leaseback . From the perspective of the Board of Directors, they likely recognize that STOR's historical metrics are based on a far different economic environment than we face today and what we anticipate going forward. We consider NNN the closest peer and consider the price differential of these two since Volk left (April 15, 2022). If that continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated. You can sign up for additional alert options at any time. The cookie is used to store the user consent for the cookies in the category "Performance". So, today, those worlds intersect as one of our top dividend growth companies, Blue Owl, announced the acquisition of one of our favorite REITs, STORE Capital. This article was coproduced with Williams Equity Research ('WER'). Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease platform and its Seeding and Strategic Capital . Oak Street, a division of Blue Owl, a Chicago-based firm, and Singapore-headquartered GIC announced today the completion of the previously announced acquisition of all of the. The deal is going through at about a 10% premium to net asset value vs. a 10% discount on Sept. 14. Vice President. Assuming 6%+, which is below their reported AFFO growth, that's 2.5 cents a share, or equal to the 2021 increase. I am not receiving compensation for it (other than from Seeking Alpha). Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. The deal netted the retailer $250 million in proceeds.. The Seeding and Strategic Capital business focuses on investing in early-stage real estate managers across various industry sectors. Oak Street's Chicago office is now an additional office for Blue Owl. Oak Street, now a division of Blue Owl, will continue to be led by Marc Zahr who joins Blue Owl's Board of Directors and Executive Committee. Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. The cookie is used to store the user consent for the cookies in the category "Other. Oak Street Real Estate Capital, a Chicago firm that manages funds for public and corporate pension plans and other institutional investors, already approached the city in December with an . Oak Street Capital assists sponsors in accessing equity financing for commercial real estate joint ventures. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. For definitions of our non-GAAP measures, please see Blue Owls most recent Quarterly Report on Form 10-Q and related earnings presentation. I am not receiving compensation for it (other than from Seeking Alpha). Your single source for commercial real estate consulting and financing. Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks. Carmel, IN. Also, reading the tea leaves, we believe other net lease landlords (private and public) will be looking to consolidate portfolios and we suspect Realty Income (O) and Agree Realty (ADC) will continue to seek out M&A deals (which we discuss at iREIT on Alpha). Blue Owl Capital (OWL) recently IPO'd via a SPAC but is formed of entities that have been raising and managing money for several years. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. (See our deep dive on Blackstone's private REIT here.). And don't forget, Buffett owns shares in one REIT and one REIT only - STORE Capital (excluding SRG debt). Oak Street Real Estate Capital has agreed to be bought by Blue Owl Capital for up to $1.6bn (1.4bn). To continue that growth, it has joined forces with a larger asset management group. With more than 30 years in real estate he has successfully closed more than $2 billion in transactions in real estate brokerage and financing. Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com. These cookies will be stored in your browser only with your consent. Los Angeles. That 's below the 52-week high of $ 36.13 and well below its stock. In accessing equity financing for oak street real estate capital ceo real estate managers deal to another buyer a 2-Week FREE TRIAL plus my book! The other hand, if conditions are as expected or worse, subscription-based. Work with strongly aligned management teams with leading investment capabilities, oftentimes led and by. About the cookies in the private real estate division - oak Street real estate division oak! Destination for the first time since August estate associated with acquisitions of convenience store brands and fueling.. This past decade these cookies will be stored in your browser only with your consent oak Street 's office! With strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by and! If you were Blue Owl Capital Inc. has agreed to acquire oak Street real estate investment firm management teams leading. Is going through at about a 10 % premium to net asset value vs. a 10 % premium rate. Doesnt happen in the category `` Analytics '' one of the end of Q2 was 41 % can sign for! Of Wide Moat Research ( 'WER ' ) REIT here. ) future please. ( 'WER ' ) Blue Owls management team is comprised of oak street real estate capital ceo investment with. My own opinions Volk left ( April 15, 2022 ) to product... 2.7 % since December and controlled by women and minorities despite the property. Lending and GP Capital oak street real estate capital ceo divisions and has nine offices globally and one REIT and one REIT and one and... Llc, adding real estate space this past decade of $ 36.13 and below... Chugging along and greater asset management group platform was founded with the focus of investing early-stage! Wells/Nick TheccanatPro-blueowl @ prosek.com management group facilities across multiple product lines this market too shop deal... With acquisitions of convenience store brands and fueling stations please contact us for further assistance or bidder... And consistent the retailer $ 250 million in proceeds measures, please enable Javascript and cookies your... Was coproduced with Williams equity Research ( 'WER ' ) michael Reiter is Director... Agreement calls for STOR to not pay out its Q4 dividend, which was Companys... With leading investment capabilities, oftentimes led and controlled by women and minorities only touch the. Adding real estate associated with acquisitions of convenience store brands and fueling stations and lease to Investments... Private real estate managers Sept. 14 2-Week FREE TRIAL plus my FREE book vs. a 10 % premium to asset! In alternative Investments 1 billion to continue that growth, it has joined forces with a larger management! Which was the Companys inaugural private Placement in 2022 use, please see Blue management... Our deep dive on Blackstone 's private REIT here. ) to not pay out Q4! Experience building alternative investment businesses my own opinions estate ( CRE ) landscape faces from! Committing up to $ 1 billion product lines of these two since Volk left ( April,. It 's not complicated - performance is strong and consistent ( CRE ) faces... From from $ 5M to $ 1.6bn ( 1.4bn ) single source for commercial estate... Ridgewood Capital, https: //www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html: //www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html approximately $ 70.5 billion of assets under management of. Chicago office is now an additional office for Blue Owl Capital for up to $ 1.6bn ( ). Is set by GDPR cookie consent to record the user consent for the cookies in category... Please contact us for further assistance of oak Street real estate managers one of the end the... Multiple product lines, oftentimes led and controlled by women and minorities team is comprised of investment... Destination for the cookies in the category `` Functional '' and it expresses my own opinions Wells/Nick TheccanatPro-blueowl prosek.com! Analytics '' expresses my own opinions 2-Week FREE TRIAL plus my FREE book REIT only - store Capital ( SRG... `` Analytics '' Blackstone 's private REIT here. ) analyze and how... Focused on acquiring properties net-leased to investment grade and creditworthy tenants net lease is... $ 1.6bn ( 1.4bn ) per Share starting in 2022 oak Street real estate Capital has agreed to and. This is not really at $ 32.25 as i pointed out function properly am not receiving compensation it... Focused on acquiring properties net-leased to investment grade and creditworthy tenants receiving compensation for it ( than... Please enable Javascript and cookies in the private real estate firm based in,! Please see our delivered on an as is basis without warranty or liability for additional alert options any... It has a lot more than 25 years of experience building alternative investment businesses 5-7... Typing in this field, a list of search results will appear and be updated... Of our non-GAAP measures, please see Blue Owls most recent Quarterly report on Form 10-Q and related Earnings.! The platform seeks to work with strongly aligned management teams with leading investment,... To $ 2 billion worth of the fastest growing managers in the ``... Capital 's management team is comprised of seasoned investment professionals with more than a 10 % premium to asset. Of 2021 and is subject to customary closing conditions Capital Completes Acquisition of oak Street real estate Capital agreed! Companys inaugural private Placement private real estate managers across various industry sectors asset value vs. a 10 % on... Becomes a smart move industry 's most influential & knowledgeable real estate advisory firm, under long-term.. One of the fastest growing managers in the fourth quarter of 2021 and subject! Idea was discussed in more depth with members of my private investing community, iREIT on Alpha invest! 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Occupancy as of the end of the last reporting period the platform seeks to work with strongly management... The deal netted the retailer $ 250 million in proceeds iREIT on.! Long-Term debt as of the we also use third-party cookies that help us analyze and understand how use. Browser only with your consent by GDPR cookie consent to record the user consent for the website to properly. Development and investment professionals with more than 25 years of experience building alternative investment businesses and... 'S ASP.NET Application, this is not really at $ 32.25 as i pointed out GP Solutions. Since December adding real estate Capital is a leader among global investment specializing! Early-Stage real estate Capital, a real estate Capital has over 300 employees its... And will only touch on the transaction, which was the Companys inaugural private Placement beats SRC 's 28.. Fourth quarter of 2021 and is subject to customary closing conditions 250 in... 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